Markets Actual Q3 Q4 Q1 Q2 2022
Currency 304.61 303 305 308 310 315
Stock Market (points) 51453.71 50821 49388 47997 46643 44049
Government Bond 10Y (%) 3.20 3.26 3.34 3.41 3.49 3.65

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.70 2.8 1.5 1 0.9 0.9
GDP Annual Growth Rate (%) 17.90 5.7 4.9 3.5 2.8 4.1
Unemployment Rate (%) 3.90 3.7 3.6 3.8 4 3.7
Inflation Rate (%) 4.90 4.3 3.7 2.7 2.5 2.9
Inflation Rate Mom (%) 0.20 0.1 0.1 0.3 0.3 0.2
Interest Rate (%) 1.65 1.65 2 2.5 2.75 2.75
Balance of Trade (HUF Million) -64170.76 590000 170000 380000 380000 200000
Current Account (EUR Million) -775.00 800 100 500 500 200
Current Account to GDP (% of GDP) 0.00 -0.5 -0.5 -0.4 -0.4 -0.4
Government Debt to GDP (% of GDP) 80.40 78 78 77.5 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -6.1 -5 -5 -5
Business Confidence (points) 6.10 -2 1 -1 -1 4.5
Consumer Confidence (points) -19.70 -9 -7 -5 -5 -6
Retail Sales MoM (%) -0.20 0.7 0.5 0.7 0.7 0.4
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.70 2.8 1.5 1 0.9 0.9
GDP Annual Growth Rate (%) 17.90 5.7 4.9 3.5 2.8 4.1
GDP (USD Billion) 155.01 176 176 194 194 194
GDP Constant Prices (HUF Million) 10403959.00 10699070 11152608 9573879 10695270 11609865
Gross Fixed Capital Formation (HUF Million) 2641287.00 2566736 2683035 2648482 2715243 2793039
GDP per capita (USD) 16745.09 17100 17100 18400 18400 18400
GDP per capita PPP (USD) 31007.77 32800 32800 34200 34200 34200
GDP From Agriculture (HUF Million) 340093.00 352689 360422 356287 349616 375199
GDP From Construction (HUF Million) 421443.00 369903 397331 421046 433243 413621
GDP From Manufacturing (HUF Million) 2075695.00 2035401 2038752 2097257 2133814 2122341
GDP From Public Administration (HUF Million) 1245831.00 1327958 1313607 1294429 1280714 1367465
GDP From Services (HUF Million) 5611754.00 5763055 5685507 5702782 5768883 5918612
GDP From Transport (HUF Million) 489866.00 480514 484291 502489 503582 504147

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 3.90 3.7 3.6 3.8 4 3.7
Youth Unemployment Rate (%) 16.80 16.6 16.5 16.7 16.9 16.8
Labour Costs (points) 141.10 138 144 162 153 156
Wages (HUF/Month) 423621.00 423737 485397 459297 459205 525200
Wage Growth (%) 3.70 8 8 8.4 8.4 8.2
Minimum Wages (EUR/Month) 476.00 440 440 480 480 480
Population (Million) 9.77 9.72 9.72 9.7 9.7 9.7
Retirement Age Women 64.50 64.5 64.5 64.5 64.5 64.5
Retirement Age Men 64.50 64.5 64.5 64.5 64.5 64.5

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 4.90 4.3 3.7 2.7 2.5 2.9
Inflation Rate Mom (%) 0.20 0.1 0.1 0.3 0.3 0.2
Harmonised Consumer Prices (points) 119.86 119 118 120 122 122
Consumer Price Index CPI (points) 1436.20 1423 1418 1439 1462 1459
Core Consumer Prices (points) 432.20 483 489 493 445 504
Core Inflation Rate (%) 3.60 3.8 4.2 3.6 3.6 3
Producer Prices (points) 129.30 103 103 103 103 103
Producer Prices Change (%) 14.80 11.5 2.7 2.9 2.9 2.8
CPI Transportation (points) 111.10 102 102 102 102 102
Food Inflation (%) 3.00 3.5 4 4.3 4.3 4.5

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 1.65 1.65 2 2.5 2.75 2.75
Interbank Rate (%) 1.74 1.74 2.09 2.59 2.84 2.84
Deposit Interest Rate (%) 0.70 0.7 1.05 1.55 1.8 1.8
Private Debt to GDP (%) 136.20 140 140 135 135 135

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (HUF Million) -64170.76 590000 170000 380000 380000 200000
Current Account (EUR Million) -775.00 800 100 500 500 200
Current Account to GDP (% of GDP) 0.00 -0.5 -0.5 -0.4 -0.4 -0.4
Imports (HUF Million) 3440098.74 3410000 2930000 3170000 3170000 3140000
Exports (HUF Million) 3375927.98 4000000 3100000 3550000 3550000 3340000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 80.40 78 78 77.5 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -6.1 -5 -5 -5
Government Budget Value (HUF Billion) -97.00 50 -1570 -1100 -1100 -1190
Government Spending (HUF Million) 1047425.00 1047679 1263682 1056531 1076753 1315493
Government Spending to GDP (% of GDP) 51.60 48 48 48 48 46.5
Government Revenues (HUF Billion) 2234.41 2250 2980 1850 1850 3410
Fiscal Expenditure (HUF Billion) 2333.61 2200 4550 2950 2950 4600

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15
Sales Tax Rate (%) 27.00 27 27 27 27 27
Social Security Rate (%) 35.50 42 42 42 42 42
Social Security Rate For Companies (%) 17.00 23.5 23.5 23.5 23.5 23.5
Social Security Rate For Employees (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q3 Q4 Q1 Q2 2022
Business Confidence (points) 6.10 -2 1 -1 -1 4.5
Industrial Production (%) 8.00 1.2 2.2 3.5 4.1 3.2
Manufacturing PMI (points) 55.90 51.9 52.5 54.3 53.2 52.8

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) -19.70 -9 -7 -5 -5 -6
Retail Sales MoM (%) -0.20 0.7 0.5 0.7 0.7 0.4
Retail Sales YoY (%) 3.00 2.5 4.2 3.7 3.7 1.9
Consumer Spending (HUF Million) 6133971.00 6130400 6512430 5989997 6305722 6779440
Bank Lending Rate (%) 2.60 2.6 2.95 3.45 3.7 3.7
Consumer Credit (HUF Billion) 1091.95 1028 1037 1053 1103 1079
Gasoline Prices (USD/Liter) 1.49 1.42 1.35 1.28 1.21 1.15

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 22.50 15 7.5 6.2 4.8 3.2


This page has economic forecasts for Hungary including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Hungary economy.